SOURCE: Pine Ridge Holdings, Inc.

November 19, 2008 09:30 ET

Pine Ridge Holdings Authorizes Shares to Fund ServeNation Initiatives

FORT WAYNE, IN--(Marketwire - November 19, 2008) - Pine Ridge Holdings, Inc. (PINKSHEETS: PINR) CEO Kevin May announced the company has authorized new shares to further fund ServeNation initiatives.

May commented, "In the past three months, ServeNation has made significant upgrades to its site code, created new sites as well as expanded its sales and marketing efforts. Sectors outside of ServeNation's original non-profit focus have been contacting ServeNation and after careful evaluation, it has been decided to use its code in a variety of new markets and strategies. This change in strategy has led to a change in ServeNation's slogan from -- 'Giving non-profits a winning solution' to -- 'a simple fundraising solution.'"

May continued, "During this time of radical growth and development, PINR elected to remain silent about its efforts. Being a highly entrepreneurial company, changes were being made to strategies on a daily basis and disseminating information amidst change did not seem wise. However, we will be releasing a half dozen press releases in the coming weeks related to all of the new efforts to update our shareholders."

May concluded, "Although management will be prudent in how it funds these initiatives, and has been prudent in how we have funded the past three months, the expansion into so many markets in such a short amount of time requires our ability to enter them in a position of strength and not weakness. Several new market launches have already taken place with more to come. We simply want to make sure that as we grow we are adequately funded."

Shareholders are encouraged to visit http://www.pineridgeholdings.com for informational updates.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

  • CONTACT:
    Kevin May
    260-637-9090